online banking

online banking

Transacting business with a bank, savings & loan or other financial institution over the Internet rather than in person at a branch or drive-in location. Customers can view their account balances, transaction history and cancelled checks, as well as pay bills, transfer funds and apply for loans. Most banks offer online banking as an option, whereas a "virtual bank" has no physical branches and conducts all business online. See mobile check deposit and virtual bank.

The Internet Banking liability Policy broadly covers liability losses arising from the provision of online banking services, including invasion of privacy; libel, slander and defamation; damage to electronic data of a customer; denial of service; loss of business opportunity; unauthorized access to a customer account; and infringement of copyright or trademark.

The new MFA component incorporated within the Fiserv credit union core processors' Internet banking solutions uses risk-based technology to generate a profile of the member's PC and geo-location as one level of authentication.

Mike Nicastro, Open Solutions' Senior Vice President of Marketing and Product Management, said, "Commercial Capital Bank's position as one of the fastest growing savings institutions in California makes CCB an impressive addition to our growing number of West Coast-based Internet banking and cash management clients.

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